News
Lumber prices begin to tick higher In the past few months, I’ve seen far too many charts overlaid with lumber trying to prove that everything is about to collapse. I can count on one hand the times that I’ve seen anything useful come out of the overlay of two unrelated charts and lumber will be
NEW DELHI: The US Federal Reserve’s announcement to start tapering its bond purchase programme “soon” and the probability of earlier-than-expected rate hike have come as a big blow to bullion investors. In its policy statement on Wednesday, the US central bank said it could start paring bond purchases as soon as November and that half
House majority leaders says the vote will take place Moderate Democrats met with House Dem leaders in Pelosi’s office for an hour and 15 minutes, and afterward they were was high expectation the vote on the Senate’s infrastructure bill would still occur on Monday. “I’m bringing the bill to the floor on Monday,” Hoyer told
Sept 24: Gold prices edged higher on Friday after falling more than 1% in the previous session, helped by a subdued , although Federal Reserve‘s plans on reducing stimulus to the U.S. economy kept the bullion on track for a third straight week of declines. FUNDAMENTALS * Spot gold rose 0.2% to $1,746.84 per ounce
Yen’s fortune reversed last week as US treasury yields accelerate up after hawkish FOMC meeting and projections. US stocks also display strong resilience and closed generally higher, reversing prior losses. Sterling, on the other hand, shrugged off hawkish BoE voting and ended as second weakest. Aussie and Kiwi were not too far away with concerns
Forex news for North American trading on September 24, 2021 The CAD and the USD is ending the day as the strongest of the major currencies as the flow of funds into the CAD were by higher oil prices, and the US dollar continues to be supported by higher yields and perhaps a little flight to
TOKYO: prices rose for a fourth day on Friday, taking Brent towards three-year highs, as investors focused on tighter supplies amid strong appetite for riskier assets like crude and high hopes for recovery from the pandemic. Brent crude was up 40 cents, or 0.5% at $77.65 a barrel, by 0037 GMT, after touching a two-month
Sterling rebounds strongly after two BoE MPC member voted for tapering. Also, recent developments strengthened the case of modest tightening. Commodity currencies are also firmer following mild rebound in the stock markets. On the other hand, Yen, Swiss Franc and Dollar turned softer on improvement overall risk sentiment. But for now, the Pound is still
What are the major economic releases and events for next week Sunday, September 26: German federal elections Monday, September 27: ECB Lagarde speak. 7:45 AM FOMC member Evans speaks, 8 AM ET US durable goods orders, 8:30 AM ET. Estimate 0.7% versus -0.1% last month FOMC Williams speaks, 12 PM ET FOMC Brainard speaks, 12:15 PM ET BOE Gov. Bailey speaks, 2 PM ET Tuesday,
New Delhi: Gold in the national capital on Friday declined by Rs 365 to Rs 45,141 per 10 grams reflecting an overnight plunge in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 45,506 per 10 grams. Silver gained marginally by Rs 21 to Rs
Market sentiment took a big turn overnight with strong rally in US indexes. Nikkei follows in Asia and reclaimed 30k handle, but other Asian markets are soft. Yen dropped notably following return of risk appetite while Dollar also weakened. On the other hand, commodity currencies rebounded notably. Yen is now the worst performing one for
Daily thread to exchange ideas and to share your thoughts A typically key driver of the market has finally come back to life after a more than two-month hiatus, as Treasury yields seal a technical break higher in trading yesterday. That to me, is a key factor to be mindful about, and tees up a potentially strong
NEW DELHI: Gold and silver futures continued to be under pressure on Friday following the Fed announcement of tapering. Gold is often considered a hedge against higher inflation, but a Fed rate hike would increase the opportunity cost of holding gold, which pays no interest. Fed Chairman Jerome Powell said the tapering process could conclude
The BOE voted 9-0 to leave the Bank rate at 0.1% at the September meeting. The members voted 7-2 to keep the QE program at 895B pound. Deputy governor Dave Ramsden and external member Michael Saunders favored lowering the amount of asset purchase to 840B pound. Policymakers warned that inflation could rise above +4% by
It’s turning into a banner day The S&P 500 has extended today’s gain to 67 points, or 1.53%, to 4463. It opened the month at 4522 so we’re another 60-point rally from extending the monthly streak of gains to 8 with a week of trading to go. I believe this is all about the abundance
New Delhi: Gold in the national capital on Thursday declined Rs 294 to Rs 45,401 per 10 gram reflecting overnight fall in international precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 45,695 per 10 gram. In contrast, silver gained marginally by Rs